Melbourne’s western suburbs are experiencing a significant transformation, driven by new residential developments offering unique incentives to attract homebuyers. This initiative aims to address the growing demand for affordable housing while fostering community growth and development.
One of the standout developments in this area is Unity Park by HB Land in Tarneit. This latest project is enticing buyers with a limited-time offer of up to $30,000 off per lot. These discounts are available to clear titled land stocks across several communities. HB Land’s CEO, Michael Vinodolac, emphasizes the urgency of this opportunity, noting, “There’s no question, Melbourne’s market has been tough for a while now, but the last couple of months we’ve actually seen a reasonable uptick in the volume of sales in that catchment. As sales volumes increase, the current discounts will quickly vanish. This makes it an ideal time for buyers to act now and take advantage of these savings. Otherwise, there’s a risk of paying up to $30,000 more for the same property in the near future.”
Vinodolac also highlights the current trends in the housing market, where builders are absorbing increases in house construction costs due to recent National Construction Code (NCC) changes effective from May 1st. However, he warns that these construction costs won’t be held for much longer. The shortage of housing stock across Australia is contributing to the growing interest in developments like Unity Park, which offer buyers more space and a sense of community.
George Bougias, National Head of Research at Oliver Hume, underscores the importance of thoughtful design in these new developments, which fosters a greater sense of community and opportunities for residents to connect. He notes that these developments offer buyers the chance to purchase both a house and land, a valuable investment given Melbourne’s forecasted growth as one of the fastest-growing capital cities over the next couple of decades. “Buying land, when it’s becoming an increasingly scarce asset, is a decision a lot of people appreciate,” he explains.
Unity Park is seeing rapid sales, with over 50% of the Clementine release, stage 8, sold in the first month, prompting the release of stage 9 to ensure a full range of lot sizes is available for buyers. In addition to the discounted lots, there are many other reasons why buyers are drawn to Unity Park for their new home.
Affordability is a significant factor. According to the latest PropTrack data, the median dwelling price in Melbourne is $806,000 as of May 2024, with houses at $921,000 and units at $617,000. In contrast, land prices at Unity Park in Tarneit start from just $293,500, with lots ranging from 262 sqm to 539 sqm. Bougias explains that choosing to live in the west offers greater affordability: “Melbourne’s west is the city’s most affordable area and an ideal location for those looking to get more value for their money. The region is particularly attractive to a range of groups, including first and second homebuyers, families, and investors.” Vinodolac adds that for young families and first-time home buyers, this development offers a way to get into a growing neighborhood and make a strong investment. “The cost of a new apartment building can’t come down, but certainly the price of a house and land package in the outer suburbs can go up,” he says.
Top Amenities are another draw for Unity Park. Despite being a new development, Unity Park already offers a wealth of amenities with more to come, making it ideal for family living. Nearly two-thirds of Unity Park’s buyers are families. Nature lovers and those who enjoy a morning run or walk can take advantage of over 100 hectares of parks and open space surrounding Unity Park, including Tarneit Lakes, the Baden Powell Reserve, and Tarneit Creek. There’s also a new primary school and kindergarten currently under construction, along with 17 existing private and public schools and 25 early learning centers nearby.
Residents also benefit from proximity to four retail precincts, including the local Riverdale Village shopping center with Coles, ALDI, and local shops less than 1 km from Unity Park, which features a shared path network linking to adjacent and future train stations. A major attraction is that all homes are within a 400m walk to the new primary school and a new community park. For sports fans, the recently opened Wyndham Regional Football Facility and the future 15,000-seat stadium will likely draw surrounding visitors for major games.
In summary, the developments in Melbourne’s west, particularly Unity Park, are playing a crucial role in helping homebuyers through temporary incentives. They are creating affordable and sustainable living options while fostering vibrant communities with modern amenities and excellent connectivity. With up to $30,000 off per lot for a limited time, and a host of amenities already in place, Unity Park represents an ideal opportunity for those looking to secure their place in a growing and vibrant community.
